Illinois
Record-high Illinois university workers opt-out of pensions
A record share of Illinois university employees opt-out of pensions for a 401(k)-style plan, lawmakers should give other state employees the same flexibility.
More retired state university employees are opting for a 401(k)-style plan rather than a traditional pension than ever before. They want more choice and flexibility in their retirement benefits. Lawmakers should expand the option to all state workers.
SURS published its annual actuarial evaluation for 2025. With only 47.1% of what they need to pay retirees, they are the second-highest funded state pension in Illinois, beaten only by the Teachers Retirement System with a funded ratio of 47.8%. That shouldn’t be a source of pride, however.
Experts say 60% funded is dangerous and 40% funded or lower is past the point of no return, so 47% is far too low. Illinois’ pension crisis is the worst in the nation.
But the system stands apart because it offers a way out for employees who don’t want to be stuck in the outdated, one-size-fits-all pension model or a pension system that might become insolvent.
SURS gained 1,314 new employees last year, 725 to the traditional and portable pension plans while 589 opted into the Retirement Savings Plan. Nearly half, 45%, of all new members joining are opting out of a traditional pension.
The numbers show 18.2% of all active employees opted into the Retirement Savings Plan, the highest ever since it started in 1998.
It’s a defined contribution plan, similar to a 401(k), rather than the typical defined benefit pension available in most state retirement systems. That’s up from 17.7% of active employees in 2024.
Actuaries expect this pattern to continue, projecting a growing share of active employees opting into the plan until it reaches around 30% of all active employees who are on a defined contribution plan.
Academic hires such as professors are expected to opt-in to the Retirement Savings Plan at a rate of 45%. Non-academic employees such as administrators are expected to opt-in at a rate closer to 25%.
In both cases, employees seem to enjoy getting more choice over how to invest their retirement benefits, but the difference highlights why this option is so important. Currently state university employees are the only ones with this defined contribution option.
Traditional pensions for new workers at Illinois universities have a vesting period of 10 years. That means if someone leaves their job or the state before they’ve completed 10 years, they won’t be eligible for anything but a refund of their contributions. Not the state match or any interest they could’ve accrued while working.
Early-career academics face higher job uncertainty and are more likely to change institutions than later-career or tenured faculty. Under higher expected mobility, defined contributions are more attractive because you don’t have to worry about losing out on retirement benefits because the vesting period is much lower at 5 years.
Mobility isn’t only important in academia. The ability to change careers is important for a variety of jobs today. Wage and salary workers in the public sector today have a median tenure of 6.2 years. That number is likely skewed because 3-in-4 government workers are aged 35 and older.
Younger workers tend to stay in jobs for shorter periods. Across the public and private sectors, the median tenure of workers 55 to 64 is 9.6 years and 2.7 years for workers 25 to 34. Both figures are far below the 10-year vesting requirement for most Illinois pensions.
There’s no reason to limit flexibility and control to only employees under the State University Retirement System. Senate Bill 3389 offers a step in the right direction by allowing downstate teachers to opt-in to a similar Retirement Savings Plan. But that is only the start.
Illinois should expand this option to all five of its state pension systems so that employees can choose to have more control over their retirement finances. Similar plans have been enacted in Rhode Island and Tennessee, which has one of the best-funded pension systems in the country. A defined contribution plan offers more freedom and security for retirees.
Illinois
Illinois State Police release video of deadly shooting involving ISP troopers on South Side
CHICAGO (WLS) — Illinois State Police have released videos showing a deadly shooting involving state troopers last month in Chicago.
The video in the player above may be difficult to watch.
The shooting happened around 10:50 p.m. April 15 in the 6500-block of South Champlain Avenue in the city’s Woodlawn neighborhood.
ABC7 Chicago is now streaming 24/7. Click here to watch
Officers got a call for a domestic battery from a passenger in a vehicle on I-57.
That passenger led the officers to find her boyfriend, 24-year-old Jalen Carpenter, in the 6500-block of South Champlain Avenue.
That’s where the newly released video picks up.
ABC7 froze the video at the moment it appears Carpenter fires a weapon during a scuffle with the officers.
No one was hit by that bullet, but seconds later, the officers return fire, killing Carpenter, officials said.
The officers are still on administrative status while the Illinois State Police Division of Internal Investigation investigates the case.
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CHAMPAIGN — Illinois and coach Brad Underwood have agreed to new financial terms on his current six-year contract that runs through 2031-32, and the deal could extend through 2035-36 based on the team’s performance over the next four seasons.
Athletic director Josh Whitman made the announcement Thursday, about six weeks after the Illini’s season ended with the program’s first NCAA Final Four appearance in 21 years. Contract terms were not announced. The agreement requires approval of university trustees.
“Thanks to Brad Underwood’s tireless leadership and relentless pursuit of championships, our men’s basketball program has established itself as one of the nation’s premier programs while rewriting much of our record book,” Whitman said. “He has revitalized a proud fan base and elevated our program to new heights while competing in the most dynamic, high-stakes environment in college sports history.”
The Illini won the fourth-most games in program history with an overall record of 29-8 and they finished in a three-way tie for second in the Big Ten at 15-5. They won each of their first four NCAA Tournament games by double digits before losing 71-62 to UConn in the national semifinals.
“Illinois is a special place, and we’re coming off a special year with a trip to the Final Four,” Underwood said. “But we know there is still more to achieve. Our focus remains competing at the highest level in pursuit of a national championship. I am more motivated than ever to help bring that title home to the University of Illinois.”
Underwood is 193-110 in nine seasons at Illinois with six straight NCAA appearances.
Illinois
Illinois Wesleyan to Launch First-of-its-Kind Interdisciplinary Undergraduate Quantum Science and Engineering Program
Fisher Center for Interdisciplinary Quantum Science & Engineering positions Illinois
as a leader in next generation quantum education
BLOOMINGTON, Ill. – Illinois Wesleyan University today announced the creation of the Fisher Center for
Interdisciplinary Quantum Science & Engineering, a first-of-its-kind undergraduate
program that brings together multiple areas of study to better prepare students for
careers in this emerging field.
The Fisher Quantum Center will make Illinois Wesleyan the first undergraduate liberal
arts university in the United States to offer an interdisciplinary quantum program,
positioning both the University and the state as leaders in the quantum space.
The Fisher Quantum Center is supported by a founding gift from Ann ‘82 and Alan Fisher,
providing the resources to establish the center and launch programming. Ann is a graduate
of Illinois Wesleyan University and serves on the university’s Board of Trustees.
The Fisher Quantum Center is designed to grow in phases and will expand its curriculum,
facilities, and partnerships over time.
“The Fisher Quantum Center represents a defining step forward as the first undergraduate
interdisciplinary quantum program. Quantum is reshaping industries and the way we
solve complex problems, and this complexity is an ideal fit with Illinois Wesleyan’s
cross-curricular approach to undergraduate education. We are especially grateful to
Ann and Alan Fisher for their generous gift that is making this distinctive program
possible,” said Illinois Wesleyan University President Sheahon J. Zenger.
What is Quantum?
Quantum science studies how matter and energy behave at the smallest scale, where
the differences can be used to create new, more powerful technologies. Because of
this, quantum has a wide variety of real-world applications and is poised to transform
everyday lives and revolutionize industries ranging from computing and cybersecurity
to healthcare, finance, and agriculture.
Most quantum programs are primarily offered at the graduate level and focus on a single
area of study. The Fisher Quantum Center takes a fundamentally different approach
by focusing exclusively on undergraduate education and bringing together physics,
chemistry, computer science, mathematics, biology, business, philosophy, and engineering
into one holistic curriculum. Instead of separating these fields and narrowing the
focus, it connects them to better reflect the broad applications of quantum. This
first-of-its-kind approach prepares students not only with the technical skills for
these emerging careers, but with an understanding of the economic, ethical, environmental,
and societal implications of quantum technologies.
and instrumental performance (euphonium). He has also conducted research on the ethical
implications of quantum computing.
Students will be able to engage with quantum in multiple ways, including through individual
courses, certificates, concentrations, hands-on experiments, projects, faculty-mentored
research, and internships. The Fisher Quantum Center is designed to be flexible, inclusive,
and accessible to undergraduate students from all areas of study to create a gateway
into quantum for students who might not otherwise encounter the field. It will also
serve as hub for visiting scholars, postdoctoral researchers, and faculty to collaborate
on strengthening undergraduate quantum laboratories and infrastructure.
“We are proud to support the creation of the Fisher Quantum Center and the unique
opportunity it creates for students coming to Illinois Wesleyan. The Fisher Quantum
Center will open the door for students from many different backgrounds to engage with
quantum in a way that is accessible and better prepares them for future careers. We
are excited to see how this program grows and the impact it will have on Illinois
Wesleyan students, the university, and the broader community,” said Ann and Alan Fisher.
The first courses through the Fisher Quantum Center will be available in Spring 2027,
alongside enhanced quantum lab space, with programming expanding throughout the year.
Beyond the classroom, the Fisher Quantum Center will support outreach initiatives
to engage high school teachers and students to strengthen pathways into quantum and
STEM fields. Beginning in Summer 2026, Illinois Wesleyan will host a fully funded
Quantum Day Camp for high school STEM teachers and counselors from surrounding counties,
with a residential Quantum Camp for high school students anticipated for Summer 2027.
“The Fisher Quantum Center represents a first-of-its-kind program that will create
new opportunities for students to engage with quantum across disciplines while preparing
them for the high-quality jobs of the future. Quantum technology is already shaping
the future of the global economy, and Illinois is positioning itself as a global leader.
To compete, we need to continue building a strong workforce pipeline, and Illinois
Wesleyan is playing a critical role by giving students the skills and training needed
to fill these emerging jobs and help keep Illinois at the forefront of innovation,”
said Gov. JB Pritzker.
At a time when Illinois is emerging as a national hub for quantum innovation, the
Fisher Quantum Center will play a critical role in developing the next generation
of talent, expanding awareness of quantum careers and opportunities, and ensuring
the state remains competitive in this rapidly evolving field.
“Developing the next generation of talent is essential to maintaining Illinois’ momentum
in quantum,” said Illinois Economic Development Corporation President and CEO Christy George. “Illinois Wesleyan’s new program creates opportunities for students in high demand
fields while helping build the workforce pipeline Illinois industries need. The Fisher
Center reflects the forward-thinking approach that has helped position Illinois as
a growing hub for quantum innovation and emerging technologies.”
For more information about the Fisher Quantum Center, visit www.iwu.edu/fisher-quantum-center.
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